Stocks were relatively flat until the latest gross domestic product report, which came in at 3.4% versus expectations of 3.1% to 3.5%.
Personal Consumption Expenditures came in at 1.8% quarter over quarter versus estimates of 1.8%, and core PCE came in at 2.0% versus expectations of 2.1%.
The market is still largely fragmented and we didn’t get much movement ahead of the open on the new data.
We saw blue chips leading tech early on Wednesday. But as the day went on, tech started gaining momentum.
The bond market (TLT) meanwhile, is continuing to rise to the upper end of the range… So we go with the flow.
I also have some stocks to cover, so there’s a lot to talk about today — I’ll cover all that and more in this morning’s “Premarket Must Watch” video!
Roger Scott
Roger Scott Trading
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P.S. About the New Trade Set to Confirm
If you missed us yesterday, Graham revealed his top “new” AI stock, and he just told me it looks like he could be opening a position in it sooner than expected.
So at noon Eastern today, he’s going to show everyone the BIG AI stock setting up for what he believes to be a massive momentum wave, and exactly how he plans to target it the moment the stars are aligned.
Just follow that link below and save your seat for Graham’s big reveal at noon today!
